What did SFS get out of the deals?

Why would a loan consolidation company pay hundreds of thousands of dollars to college athletic departments across America? What did it get?

The college’s stamp of approval in the form of team mascots, school logos and sales brochures tucked beside official sports department mailings.

Forget the tiny print whispering that the school isn’t involved. Tacking a sales pitch hawking student loans onto a football or basketball schedule branded with sports logos is a stamp of approval.

Just ask New York Attorney General Andrew Cuomo. Cuomo, who investigated these marketing practices, says students and alumni let their guard down because the pitch came from a trusted source — their alma mater. Cuomo labeled the practice unfair and deceptive.

What did the schools trade for cash? The specifics vary by school. Here’s the marketing menu:

Names and address of newly minted graduates.

Multiple mailings each year bundled with school sports promotions.

Use of the school logo, mascot and name on marketing materials.

Ability to market the loan consolidation program at sports events.

Ads in game day programs.

Web links between the official athletic department site and the loan company.

Whistleblower Connection

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If you have specific evidence a company is defrauding the government, contact the James Hoyer Law Firm. As a whistleblower, you can file a legal action in the government’s name to recover money for taxpayers.